YEREVAN. – Solely the companies which will create new production may pay a lower income tax.

The Deputy Minister of Finance of Armenia, Vakhtang Mirumyan, told the abovementioned to reporters on Thursday commenting on the amendments to the Law on Turnover Tax.

In his words, this tax will be reduced from 20 to 2 percent, but only for the companies whose annual exports total Armenian drams that are more than approximately $105 million.

“Moreover, the current productions, which will attempt to circumvent the watermark by way of joining, don’t fall under the amendments. This will not give new production, new jobs to the country, whereas we strive for that,” Mirumyan added.